UPS to Cut 20,000 Jobs Amidst Cost-Cutting Plan
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UPS announced plans to cut 20,000 jobs this year, adding to the 12,000 jobs cut last year, as part of a cost-reduction strategy to boost profits. The cuts, impacting operational employees and involving the closure of 73 buildings, are partly attributed to reduced shipping volume from customers affected by tariffs and macroeconomic uncertainty. The company cited a need to improve profit margins and has already reduced its less profitable deliveries for Amazon.
UPS announced plans to cut 20,000 jobs this year, adding to the 12,000 jobs cut last year, as part of a cost-reduction strategy to boost profits. The cuts, impacting operational employees and involving the closure of 73 buildings, are partly attributed to reduced shipping volume from customers affected by tariffs and macroeconomic uncertainty. The company cited a need to improve profit margins and has already reduced its less profitable deliveries for Amazon.
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